Increase in
Ordinance No. az of 1946.
such new conveyance: Provided that such excass stamp duty shall not become payable in respect of the value of the consideration of property comprised in a conveyance which has already borne the excess stamp duty imposed by this sub-section or in respect of the value of the consideration of property comprised in a conveyance which has borne the excess stamp duty made payable by the Stamp (Amendment) Ordinance, 1940.
(2) In this section...
fr
conveyance on sale "shall not include a conveyance on sale registered in the Japanese House Registration Office as defined by the Stamp (Occupation Transactions) Proclamation, 1946, nor shall it include an assignment or reassigurient exempt from ad valorem duty by virtue of Article 3 of the aforesaid Proclamation;
IK naw conveyance means (conveyance on sale executed after the commencement of this Ordinance;
in Isad.
property means any estate or interest
(3) Where a new conveyance purports to convey for one consideration property previously comprised in a conveyance which has borne excess stamp duty and property not so comprised the collector shall apportion such consideration between such properties according to what he considers to be the true value thereof and sball assess excess stamp duty accordingly."
FJ
(1) The second column of the Schedule to the principal duty on con- Ordinance is hereby amended-
veyance CHOL
sk and
correspond-
ing increase
in duties
#certainable
by reference bo it.
Amendments
first columa of Schedule
to the
principal Ordinance.
14
(a) by the substitution opposite beading number 15 of the symbol and figure 82" for the symbol and figure
** $1 and
TRANI
يه
10
(6) by the substitution opposite beading number 44 of the symbol and figure for the symbol and figure " $1
(2) For the purpose of removing doubts it is hereby declared that all duties which by reuson of any provision in the principal Ordinance (including the Schedule thereto) are ascer- tainable by direct or indirect reference to the duty payable on a conveyance on sale shall be ascertainable by reference to the increased duty resulting from the substitution effected by para- graph (a) of sub-section (1) of this section.
5. The following amendments are made in the last line of such parts of the first column of the Schedule to the principal Ordinance as apply to the heading numbers hereinafter specified:-
J
(a) Heading number 3-the words, symbols and figure "Shares (1) Contract note, etc." are substituted for the words
Share contract **;
+
J
(b) Headings number 12 and number 14the brackets and figure"(1) ' are substituted for the brackets and figure
after the word shares "
(4)
44
8. (1) Notwithstanding anything herein contained where a Seving and new conveyance is executed pursuant to a duly stumped agreement mana entered into before the 25th August, 1948, auch conveyance shall provisions. be deemed to be lawfully stamped if it is stamped or presented for adjudication seven days after execution and fa stamped either in accordance with the law in force before the commencement of this Ordinance or with the law in force immediately after such commancamant.
(2) Without prejudice to the provisions of sub-section (1) hereof all instruments presented for stamping after the com- mencement of this Ordinance whether presented out of time or not, shall be liable and be deemed always to have been liable to pay such stamp duties as are in force indimediately after the com- mencement of this Ordinance in lieu of the duties in force immediately prior to the commencement of this Ordinance.
Passed the Legislative Council of Hong Kong, this 8th day of September, 1948.
Alati tod
Deputy Clerk of Councils,